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- #37,681
- Jul 20, 2012 9:18am Jul 20, 2012 9:18am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,553 Posts
- #37,683
- Jul 20, 2012 10:16am Jul 20, 2012 10:16am
GU: TP1 reached and trade closed for 70 pips gain EP1 to TP1. This is the only bright spot in the day, and I kept the SL mental. It doesn't erase the losses from the other trades. I've not fared well attempting to use a hard SL this week.
Have a nice weekend.
Regards,
H.
"The future is already written in the past"
Looking at your 3 trades posted 1 winner and 2 losses. One thing that comes to mind with the 2 losses is the angle of the dragon. I don´t see any clear entry points around where you entered. Dragon was starting to slope down (AU trade). You need to be more picky and let the trades come to you - not the other way around.
Have a nice weekend.
Regards,
H.
There is no spoon....
- #37,686
- Jul 20, 2012 11:05am Jul 20, 2012 11:05am
- | Joined Oct 2010 | Status: Trader | 1,539 Posts
Looking at your 3 trades posted 1 winner and 2 losses. One thing that comes to mind with the 2 losses is the angle of the dragon. I don´t see any clear entry points around where you entered. Dragon was starting to slope down (AU trade). You need to be more picky and let the trades come to you - not the other way around.
Have a nice weekend.
Regards,
H.
- #37,687
- Edited 11:45am Jul 20, 2012 11:08am | Edited 11:45am
- Joined Mar 2008 | Status: PVSRA with Traderathome | 23,553 Posts
Looking at your 3 trades posted 1 winner and 2 losses. One thing that comes to mind with the 2 losses is the angle of the dragon. I don´t see any clear entry points around where you entered. Dragon was starting to slope down (AU trade). You need to be more picky and let the trades come to you - not the other way around.
As for the EU trade, you can clearly see all the same on M15: LS entry, Dragon up, Trend up, and possible break up thru whole number. All good M15 conditions for an entry. If anything was not well here, it was the trade management for a counter-trend trade, and not the initial setup and entry.
Successful trading methods are those using setups where follow-on PA more often than not goes in the direction intended. However, the "market" (won't use BBs, SM, etc. here, since Domas4 objects) is not obligated to oblige. Suffice it to say sometimes PA does not go in the direction intended.
I do agree on one point, though. I need to press myself to be more picky. And I hope that is what duyk20 is "high signing" about.
-tah
- #37,688
- Jul 20, 2012 12:08pm Jul 20, 2012 12:08pm
You showed the AU trade and remark the "Dragon was starting to slope down". You can clearly see on the posted entry chart that the trade was entered in the LS, the Dragon was angling up at the time, and that it was even above the Trend which also was starting to angle up. Further, this could well have turned out to be a bounce up off the whole number. This pair is in a strong uptrend (see D1, H4, etc.) This was not a bad entry. And the SL was reasonable. And the trade was successful, even though it did not make money. This is just how things sometimes...
That was the whole point of this exercise - be more picky in your trade entries....
Have a nice weekend sonicers
Regards,
H.
"The future is already written in the past"
- #37,689
- Jul 20, 2012 12:26pm Jul 20, 2012 12:26pm
TAH trades were by the rules, and some were entered like a day o two before. He followed the rules and it the long term he is a profitable trader, unlike most that trying to catcha a move and beat them selfs in the chest saying they know s**t.
Good trading to you.
Msis125125 Im just trying to get to right path, can you review my trades if they are by the rules? Thanks in advance. Im trying to learn this system right way.
Ok, sorry i wasnt infront of the pc today, could po post them again all in one?
msis
There is no spoon....
- #37,691
- Jul 20, 2012 12:38pm Jul 20, 2012 12:38pm
Ok, sorry i wasnt infront of the pc today, could po post them again all in one?
msis
EU:
Closed at TP2 (+50 pips)
Attachment
EJ:
Closed near DS2 (+46 pips)
Attachment
Still holding AU trade, possible exit: DS1, or PA:
Attachment
What do you think guys? Am I right?
AUD/USD closed (London close) for +23.
Today total: +119.
Have a nice weekend guys.
Attachment
Thanks in advance Msis.
My trades for today:
EU:
Closed at TP2 (+50 pips)
Attachment
EJ:
Closed near DS2 (+46 pips)
Attachment
Still holding AU trade, possible exit: DS1, or PA:
Attachment
What do you think guys? Am I right?
AUD/USD closed (London close) for +23.
Today total: +119.
Have a nice weekend guys.
Attachment
Thanks in advance Msis.
All perfect entries, what i couldnt find is your stop loss. And its important, there are not many days like today, when everything goes smooth. So you better to be prepared that not 100% of the trades will end up as profit, you need to set stop loss. Not mental - fisical, even though TAH thinks other wise. As for the trades you nailed it right down to the tee. Well played sir.
There is no spoon....
- #37,693
- Jul 20, 2012 1:02pm Jul 20, 2012 1:02pm
All perfect entries, what i couldnt find is your stop loss. And its important, there are not many days like today, when everything goes smooth. So you better to be prepared that not 100% of the trades will end up as profit, you need to set stop loss. Not mental - fisical, even though TAH thinks other wise. As for the trades you nailed it right down to the tee. Well played sir.
I know now that im on the good way. Again thanks a lot for advices and help. Thanks a lot for SonicR too. Im on a good way I think. And i know that there will be worse days for trading, im prepared to take loss. No averaging, if im wrong im wrong. No business can run without looses or bad days. Patience, discipline and self confidence, these are the keys for me Thanks a lot buddy. SL is at the Swing line. I´m still trying to figure out "ideal" place for SL and take profits.
Man i wish i was you a year ago, would saved arround 10k USD
Way to go. Stop loss is good. takings should be an average day candle like EU its 50-70pips. So first tp would be half or 3 quartes, then rest in with Sonic R lines
I see that you are moving forward, all the best for you kind sir and best of LUCK!
msis
There is no spoon....
Thanks a lot buddy. SL is at the Swing line. I´m still trying to figure out "ideal" place for SL and take profits.
Also good thing to know is BRAKE EVEN, not for everyone and might spoil some good trader, but better be safe then sorry.
msis
There is no spoon....
- #37,696
- Jul 20, 2012 1:10pm Jul 20, 2012 1:10pm
Man i wish i was you a year ago, would saved arround 10k USD
Way to go. Stop loss is good. takings should be an average day candle like EU its 50-70pips. So first tp would be half or 3 quartes, then rest in with Sonic R lines
I see that you are moving forward, all the best for you kind sir and best of LUCK!
msis
Happy pippin to you and hopefully i will see you later there.
Nice weekend Sonic-ers
- #37,698
- Jul 21, 2012 5:35am Jul 21, 2012 5:35am
hi guys, would this have been entry a sonic entry or not? am confused.
or should the first leg have crossed dragon first?
But it is a good entry, if you set tight SL and cut your profit quickly because "main" trend at that time is up, it mean down waves more steeper than up waves.
Just my own view, hope it will help
.
Keep Simple...!
- #37,699
- Jul 21, 2012 6:11am Jul 21, 2012 6:11am
- Joined Feb 2009 | Status: Down to Earth! | 2,358 Posts
fooled by randomness in art
Meditation All Time Return:
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- #37,700
- Jul 21, 2012 6:25am Jul 21, 2012 6:25am
- Joined Feb 2009 | Status: Down to Earth! | 2,358 Posts
fooled by randomness in art
Meditation All Time Return:
8.9%